ZEELAND, Mich., Aug. 18 /PRNewswire-FirstCall/ -- Gentex Corporation
(Nasdaq: GNTX), the Zeeland, Michigan-based manufacturer of automatic-dimming
automotive rearview mirrors and commercial fire protection products, today
announced that its Board of Directors approved a six percent increase in its
quarterly cash dividend rate from $0.085 (8-1/2 cents) to $0.09 (9 cents) per
share. The Board subsequently declared a quarterly cash dividend of $0.09 per
share that will be payable October 21, 2005, to shareholders of record of the
common stock at the close of business on October 7, 2005. The ex-dividend
date is October 5, 2005. Due to the required period of time for the
settlement of stock trades, this means that a holder must have purchased
shares of Gentex common stock on or before October 4, 2005, in order to
receive this cash dividend.
The Company's Board of Directors believes that this increase in the cash
dividend signifies its confidence in the Company's future growth prospects,
and continues to be an appropriate means of returning value to shareholders.
This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act, as amended, that are based on management's
belief, assumptions, current expectations, estimates and projections about the
global automotive industry, the economy and the Company itself. Comments
regarding future growth prospects and words like "anticipates," "believes,"
"confident," "estimates," "expects," "forecast," "likely," "plans,"
"projects," and "should," and variations of such words and similar expressions
identify forward-looking statements. These statements do not guarantee future
performance and involve certain risks, uncertainties, and assumptions that are
difficult to predict with regard to timing, expense, likelihood and degree of
occurrence. These risks include, without limitation, employment and general
economic conditions, the pace of economic recovery in the U.S. and in
international markets, the pace of automotive production worldwide, the types
of products purchased by customers, competitive pricing pressures, currency
fluctuations, the financial strength of the Company's customers, the mix of
products purchased by customers, the ability to continue to make product
innovations, the success of certain products, and other risks identified in
the Company's filings with the Securities and Exchange Commission. Therefore
actual results and outcomes may materially differ from what is expressed or
forecasted. Furthermore, the Company undertakes no obligation to update,
amend, or clarify forward-looking statements, whether as a result of new
information, future events, or otherwise.
Founded in 1974, Gentex Corporation (Nasdaq: GNTX) is an international
company that provides high-quality products to the worldwide automotive
industry and North American fire protection market. Based in Zeeland,
Michigan, the Company develops, manufactures and markets interior and exterior
automatic-dimming automotive rearview mirrors that utilize proprietary
electrochromic technology to dim in proportion to the amount of headlight
glare from trailing vehicle headlamps. Many of the mirrors are sold with
advanced electronic features, and approximately 95 percent of the Company's
revenues are derived from the sales of auto-dimming mirrors to nearly every
major automaker in the world.
SOURCE Gentex Corporation
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Related links:
http://www.gentex.com
CONTACT:
Connie Hamblin of Gentex Corporation,
+1-616-772-1800
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